What happens if the buyer and seller execute a contract on an expired version of the standard form?
QUESTION: I am the broker-in-charge for my firm, and one of my agents brought me an executed contract on an expired version of the Offer to Purchase and Contract (Form 2-T). I checked with my local board, and to make matters worse, the buyer that submitted the offer on our listing is not a REALTOR®. I have no idea what to do in this situation. Is the contract void until it is executed again on a current Form 2-T? What should I do about a non-REALTOR® using our forms?
ANSWER: The contract is not void, and you should report the unauthorized use of any standard form to the legal department at NC REALTORS®.
The North Carolina Real Estate Commission requires that any offer be delivered to the seller as soon as possible, and in no event later than three days from the broker’s receipt of the offer. 21 NCAC 58A .0106. If you receive another offer like this one in the future, talk to your seller about the offer and the benefits of using the most current Form 2-T. Then, help facilitate the execution of the contract on the most recent version of the form.
NC REALTORS®’ Forms Policy prohibits members from providing blank forms to non-members. However, in situations like this, a listing agent has several options. First, the listing agent could fill out Form 2-T with the seller, and then send a filled-out Form 2-T to the buyer for their signature (sort of like a reverse offer). So long as both the buyer and seller sign, the contract will be effective, regardless of the order of signatures. Second, if the buyer has a lawyer, you might send a blank Form 2-T to the buyer’s lawyer. Every lawyer licensed in North Carolina is permitted to use any standard form ending in “-T,” even if their client is not a REALTOR®.
So, now that you know what to do going forward, what should you do now with this contract? It depends what the buyer and seller agree to do.
The statute of frauds can be satisfied just as easily by an old form as a current form. If the statute of frauds is satisfied, the buyer and seller will be bound for the sale of real property, and neither party has a duty to re-execute the contract on a current form or amend the contract once it is effective. Since the buyer and seller are bound here, you should talk to your seller about the differences between the current contract and what the contract would be on a current version of Form 2-T. If you do not know the differences, then you may want to advise that your seller to seek legal advice. NC REALTORS® Legal Hotline can also be a resource, although Legal Hotline lawyers can only give general guidance and not specific advice.
The buyer has no duty to execute the contract on a new form if they do not want to. However, if they are willing to do so, then you can help facilitate the execution of a new contract as explained above. Once the new contract is executed, then terminate the contract on the expired form.
Once you have fully served your seller, please report the unauthorized form usage to the legal department at NC REALTORS® for further investigation.
Release Date: 05/22/2025
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